AceTraderFx Apr 14: Daily Recommendations on Major -EUR/USD
DAILY MARKET OUTLOOK on Major
Update Time : 14 Apr 2021 03:00GMT
EUR/USD - 1.1950
Yesterday’s break of last week’s 1.1927 high to 1.1955 due to usd’s weakness on falling US yields suggests recent corrective rise from 1.1705 (March) has resumed, loss of upward momentum is expected to cap price at 1.1988/90 and bring at least a strong retracement of aforesaid upmove.
A daily close below 1.1927 signals temporary top is in place and yields weakness to 1.1861/65 later this week.
On the data front, we have EU’s industrial production for Feb. A number of ECB officials including ECB President Lagarde will speak later today, please refer to our EI section for details.